“Gold” landing

26 September 2012 By Una Galani Follow @ugalani

Turkey’s vulnerability to an external shock hasn’t shrunk with the current account deficit. Short-term borrowing is rising and exports are flattered by gold sales. Amid slowing economic growth and volatile domestic and regional politics, there’s plenty of reason for caution.

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The Turkish economy is expected to grow around 3 percent in 2012 and more than 4 percent in 2013, Deputy Prime Minister Ali Babacan said on Sept. 24.
The government would remain cautious despite the continued growth, employment and good situation of banks in Turkey, Babacan said speaking at the Istanbul Finance Summit.
The government had originally targeted economic growth of 4 percent in 2012.
Inflation fell to 8.9 percent in August. The central bank’s medium term inflation target is 5 percent.

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